Sony buying Halo, Destiny video game maker Bungie in $3.6B deal
Microsoft bought Activision Blizzard earlier this month
Portfolio manager says what's happening in markets is 'normal'
UBS Managing Director and senior portfolio manager Jason Katz on the state of markets and predicts more volatility.
Deal-making continues in the video game industry as Sony Interactive buys Bungie, the maker of the Halo and Destiny titles.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SONY | SONY GROUP CORP. | 19.07 | -0.11 | -0.57% |
MICROSOFT BUYING ACTIVISION IN $68.7B DEAL
"Bungie’s successful track record in multi-format publishing and live game services will assist us in realizing our ambitions to take PlayStation beyond the console and increase our potential audience," said Jim Ryan, president of Sony Interactive, in a deal blog post.
MICROSOFT DEAL MAKES ACTIVISION CEO EVEN RICHER
(AP Photo/Eugene Hoshiko, File)
The $3.6 billion deal comes after Microsoft shelled out $69 billion for Activision earlier this month.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ATVI | NO DATA AVAILABLE | - | - | - |
| MSFT | MICROSOFT CORP. | 412.87 | -1.79 | -0.43% |
Other game makers traded higher following the deal news.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TTWO | TAKE-TWO INTERACTIVE SOFTWARE INC. | 186.58 | +1.08 | +0.58% |
| EA | ELECTRONIC ARTS INC. | 167.97 | +1.26 | +0.76% |